CIT Group Inc (DEL) (CIT) Receives Analyst Rating

CIT Group Inc (DEL) (CIT) : Zacks Investment Research ranks CIT Group Inc (DEL) (CIT) as 3, which is a Hold recommendation. 6 research analysts consider that the stocks fundamentals point to a bright future, hence they rate the stock as a Strong Buy. Not everyone is convinced about the stocks future, hence, the stock receives 1 Sell recommendation. A total of 3 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 10 research analysts is 1.9, which indicates as a Buy.

CIT Group Inc (DEL) (CIT) : The highest level CIT Group Inc (DEL) (CIT) is projected to reach is $65 for the short term and the lowest estimate is at $33. The consolidated price target from 10 rating analysts who initiate coverage on the stock is $44 and the possibility the share price can swing is $10.23.


Also, Equity Analysts at the Brokerage Firm, Credit Suisse, maintains their rating on the shares of CIT Group Inc (DEL) (NYSE:CIT). Credit Suisse has a Neutral rating on the shares. As per the latest research report, the brokerage house lowers the price target to $34.55 per share from a prior target of $42. The rating by the firm was issued on August 15, 2016.

CIT Group Inc (DEL) (NYSE:CIT): After opening at $34.94, the stock dipped to an intraday low of $34.89 on Thursday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $35.48 and the buying power remained strong till the end. The stock closed at $35.36 for the day, a gain of 1.14% for the day session. The total traded volume was 845,864. The stocks close on the previous trading day was $34.96.

CIT Group Inc. is a bank holding company (BHC), which provides financing, leasing and advisory services principally to middle market companies. The Company operates in two segments: Transportation and International Finance (TIF), provider of leasing and financing solutions to operators and suppliers in the global aviation and railcar industries, and North American Commercial Finance (NACF)., which consists of four divisions: Commercial Services, Corporate Finance, Equipment Finance and Real Estate Finance. Commercial Services provides factoring, receivable management products, and secured financing to businesses. Corporate Finance provides a range of financing options and offers advisory services to small and medium size companies. Equipment Finance provides leasing and equipment loan solutions to small businesses and middle market companies. Real Estate Finance provides senior secured commercial real estate loans to developers and other commercial real estate professionals.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.